Knoll Completes Acquisition of Edelman Leather
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EAST GREENVILLE, Pa., Oct. 1 / -- Knoll, Inc. (NYSE:KNL) today announced that it completed the previously announced purchase of Teddy and Arthur Edelman, Limited, purveyors of fine leathers to the residential, hospitality, aviation and contract office furniture markets.
Andrew B. Cogan, Knoll CEO, reiterated, "The strategic acquisition of Edelman is consistent with our strategy of building sales in our high design, high margin specialty businesses, which appeal to both business buyers and consumers worldwide. Edelman's reputation in the design community for unique leathers and its showroom network as well as its storied history is highly complementary in terms of culture, customers, markets and products."
Edelman Leather will continue to operate as an independent company and will maintain its own headquarters and distribution center in New Milford, CT. John Edelman will continue to serve as President of Edelman Leather; John McPhee will continue in his role as Edelman Leather's Chief Operating Officer. The business will operate under the name Edelman Leather, LLC.
Since 1938, Knoll has been recognized internationally for creating workplace and residential furnishings that inspire, evolve and endure. Today, our commitment to modern design, our understanding of the workplace and our dedication to sustainable design has yielded a unique portfolio of products that respond and adapt to changing needs. Knoll is aligned with the U.S. Green Building Council and can help companies, healthcare organizations and educational institutions achieve Leadership in Energy and Environmental Design (LEED®) workplace certification. Knoll is the contract furniture industry's first member of the Chicago Climate Exchange (CCX®) and is the founding sponsor of the World Monuments Fund Modernism at Risk program.
Source: Knoll, Inc.
CONTACT:Investors, Barry L. McCabe, Senior Vice President and Chief Financial Officer, +1-215-679-1301, bmccabe@knoll.com, or Media, David E.
Bright, Vice President, Communications, +1-212-343-4135, dbright@knoll.com
Web site: http://www.knoll.com/
